President Joe Biden said Monday he was considering a federal gas tax holiday that could save Americans up to 18.4 cents a gallon, although his former boss, former President Barack Obama, described it as such. “trick” movement in the election campaign. back in 2008. Biden told reporters after a walk on the beach near his holiday home in Delaware that he would decide by the end of the week whether to stop the federal gas tax. “Yes, I’m thinking about it,” Biden said. “I hope to have a decision based on the data – I’m looking until the end of the week.” President Joe Biden introduces Natalie Biden’s granddaughter, left, to members of the media as they walk along the beach with daughter Ashley Biden, right, to Rehoboth Beach, Del., Monday, June 20, 2022. (AP Photo / Manuel Balce Ceneta) The president’s comments are in stark contrast to the words of the presidential candidate and then-senator Obama from Illinois since 2008. Biden’s former boss then said the gas tax license was a “trick” to save them. Americans half a tank of gasoline in the summer. that lawmakers could “say they did something.” ACTOR OF “BREAKING EVIL” SAYS AMERICA SHOULD “STOP” FOR GAS PRICES IF “THEY LOVE CAPITALISM SO MUCH” “We do not know if the oil companies will actually pass on the savings,” Obama said in a speech in North Carolina in April 2008. “This saves you 5% on the gas tax. just increase prices by 5%, so you end up giving them more money. And we’ve run out of the Freeway Fund. the barrel”. “Oil companies like Shell and BP just reported record earnings for the quarter and we disagree on a trick to save half a tank of gas all summer long so that everyone in Washington can caress their backs and to say that they did something “, he continued. The idea of ending the federal gas tax was backed by two opponents in the 2008 presidential race – former Arizona GOP senator John McCain and former New York Democratic senator Hillary Clinton. Biden also said during his remarks Monday that members of his team would meet with executives of major oil companies this week to discuss rising pump prices. His government is evaluating options to ease the burden of high gas prices. Gas costs began to soar last fall and have continued to rise since Russia’s invasion of Ukraine in late February. TUCKER CARLSON: OUR GAS PRICE NOW LISTS FOR DISASTER US President Barack Obama greets reporters after returning to the White House with Marine One on September 3, 2015 in Washington, DC. (Photo by Chip Somodevilla / Getty Images) (Getty Images) The national average for gas prices is currently at $ 4.98 a gallon, according to the AAA. Earlier this year, the highest national average gas price ever recorded by AAA was $ 4,114 per gallon in July 2008. The president blamed oil refineries for raising gas prices in letters sent last week to seven refineries, including ExxonMobil and BP. “The sharp rise in gasoline prices is not just due to rising oil prices, but to an unprecedented disconnect between the price of oil and the price of gas,” Biden said in a statement. However, oil refineries have said their capacity to produce extra gas and diesel fuel is limited. The American Petroleum Institute and American Fuel & Petrochemical Manufacturers sent a joint letter to Biden on Wednesday saying the refineries were already operating at near full capacity and almost half of the capacity removed from the line was due to the conversion of the plant into renewable energy. EXEC OF THE OIL INDUSTRY EXTRACTS BIDEN ADMIN’S “OPEN MESSAGES” AS GAS PRICES SET A RECORD Gas prices rose by 50% nationally last year. (Getty Images / Getty Images) “The current situation did not materialize overnight and will not be resolved quickly,” the letter said. “To protect and enhance US energy security and refining capacity, we urge you to take steps to encourage more domestic energy production, including new infrastructure and reducing regulatory burdens.” The Penn Wharton Budget Model released estimates Wednesday, revealing that gas tax cuts in Georgia, Maryland and Connecticut were saving consumers money. Most of the savings went to consumers, not gas stations and others in the energy sector. Finance Minister Janet Glenn told a joint news conference in Toronto on Monday with Canadian Deputy Prime Minister and Treasury Secretary Chrystia Freeland that consumers were “really hurt by higher gas prices” and suggested a natural gas holiday. GET FOX BUSINESS IN ENGINE BY CLICKING HERE “It has been a significant burden on American households and I think that while it is not perfect, it is something that should be considered as a policy to address it,” Yellen said. Energy Secretary Jennifer Granholm, however, told CNN’s State of the Union on Sunday that “part of the challenge with the gas tax, of course, is that it finances the roads.” House Speaker Nancy Pelosi and Senate Minority Leader Mitch McConnell have previously expressed skepticism about ending the federal gas tax.
